MUMBAI: Benchmark Indian equities ended lower Tuesday as renewed geopolitical tensions between the U.S. and Iran weighed on sentiment, lifted crude oil prices and pressured the rupee.
The S&P BSE Sensex fell 479.26 points, or 0.63%, to 76,009.70, while the NSE Nifty50 dropped 118 points, or 0.49%, to 23,913.70.
Sentiment weakened after fresh U.S. military strikes on Iran revived concerns over escalation in West Asia. The move followed earlier comments by U.S. President Donald Trump suggesting Washington and Tehran had “largely negotiated” a draft understanding, while U.S. Secretary of State Marco Rubio later indicated talks could still continue over the coming days.
Crude oil prices firmed after the escalation, reversing part of the previous session’s decline. The Indian rupee weakened nearly 0.5% to 95.68 against the U.S. dollar, snapping a three-session gaining streak. Dealers said losses were partly cushioned by suspected dollar sales from state-run banks on behalf of the Reserve Bank of India.
Broader markets outperformed benchmarks. The Nifty Midcap 100 rose 0.59% to a fresh intraday record, while the Nifty Smallcap 100 gained 0.41%. Volatility eased, with the India VIX down 2.87%.
Sector performance was mixed. Nifty Metal led gains, rising 1.21%, while Nifty Auto added 0.14%. Nifty Pharma and Nifty IT were largely flat. Nifty Consumer Durables fell 0.88%, while private banks and financial services also declined.
Among Sensex constituents, Tech Mahindra gained 1.68%, while Maruti Suzuki India, Adani Ports and Special Economic Zone and Hindustan Unilever also advanced.
On the downside, Trent, Tata Consultancy Services, Bajaj Finance, Bharti Airtel and Titan Company were among the top losers. HDFC Bank and Mahindra & Mahindra also closed lower.
Analysts said renewed geopolitical risk in the Middle East, combined with expiry-related technical pressure, drove the pullback, even as steady domestic institutional inflows continued to support broader market segments.
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